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BUA delights consumers as company begins sales of cement for N3,500 per bag

Alhaji Abdulsamad Rabiu, Chairman of BUA Cement Plc

*BUA Cement Plc commits to the company’s earlier announcement to reduce ex-factory product prices to N3,500 per bag in the market, ‘so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants’

Isola Moses | ConsumerConnect

BUA Cement’s recent product price reduction to N3,500 per bag has brought relief to several stakeholders, especially in the building and construction sub-sector of the Nigerian economy.

ConsumerConnect checks evening Monday, October 2, 2023, with product dealers in some locations in Lagos State have confirmed the ex-factory prices of BUA Cement per bag crashed to “N3,500 in the market”.

Earlier, Management of BUA Cement Plc, in a statement issued Sunday, October 1 had assured consumers that the product prices would be slashed to N3,500 per bag.

The company had said: “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.”

In line with recent commitment to reduce prices, and following a periodic review of its operations for efficiency, the statement noted “the Management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward.

“As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag.”

According to BUA Cement Plc, the decision made on product price reduction is meant to ensure that “Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.”

Further cement price reductions  by Q1 2024, says BUA

Besides the current price slash, the company as well disclosed, that on completion of its ongoing construction of new plants, which would increase production volumes to 17 million metric tonnes per annum, “BUA Cement Plc intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.”

The cement producer also noted that all pending, undelivered orders by licensed cement dealers, which had been paid for at the old prices would be reviewed downwards to N3,500/bag in line with “the new pricing from October 2, 2023.”

BUA added: “Our licensed dealers are also enjoined to ensure that end-users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance.”

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